After Grayscale, Bitwise also advanced to the XRP ETF stage: Approval may come on this date! - Coin Bulletin

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The US Securities and Exchange Commission (SEC) officially announced the acceptance of Bitwise's spot XRP ETF application, moving the process to the evaluation stage. (

The SEC has approved Bitwise's spot XRP ETF application on behalf of Cboe BZX Exchange. Official documents state that public opinions will be collected within 21 days after the publication of the application and the application may be approved, rejected, or subjected to further review in the subsequent stages of the process.

Grayscale's XRP ETF application was approved by the SEC last week and the process is still ongoing.

Grayscale's spot XRP ETF application was approved by the SEC on February 14, 2025, and the evaluation process of the application will end on March 7, 2025. Bitwise's XRP ETF application, on the other hand, was accepted on February 18, 2025, with a deadline set for March 11, 2025.

There is only a 4-day difference between the two applications. The SEC can often consolidate such processes and make bulk announcements. So, March 7 could be an important date not only for Grayscale but also for Bitwise's application. The agency can conclude the process at once by approving or rejecting both applications simultaneously.

In January 2024, the SEC approved spot Bitcoin ETFs, and in July, spot Ethereum ETFs, while continuing to evaluate applications for XRP and other altcoin ETFs. According to Bloomberg ETF analysts James Seyffart and Eric Balchunas, the probability of approval for a spot XRP ETF was evaluated at 65%.

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